Arizona SB1565 amends the residential contractors' recovery fund to establish eligibility criteria and award limits for claimants.

Arizona SB1565 amends the residential contractors' recovery fund to establish eligibility criteria and award limits for claimants. Eligible claimants include individuals, trusts, limited liability companies, planned communities, and unit owners' associations that own or occupy damaged residential real property. Awards are limited to actual damages, with a maximum individual award of $40,000 and a total fund liability of $300,000 per residential contractor's license. The fund cannot cover commercial property damages or attorney fees unless in contested cases appealed to the superior court.

Arizona SB1565 amends the residential contractors' recovery fund to establish eligibility criteria and award limits for claimants.

Arizona SB1565 amends the residential contractors' recovery fund to establish eligibility criteria and award limits for claimants. Eligible claimants include individuals, trusts, limited liability companies, planned communities, and unit owners' associations that own or occupy damaged residential real property. Awards are limited to actual damages, with a maximum individual award of $40,000 and a total fund liability of $300,000 per residential contractor's license. The fund cannot cover commercial property damages or attorney fees unless in contested cases appealed to the superior court.